Gov't plans to continue cooperation with Naftogaz Supervisory Board – PM Shmyhal

The government plans to continue cooperation with the members of the Supervisory Board at NJSC Naftogaz of Ukraine, while competition will soon be held for their posts, as well as the post of head of the board.

That's according to Prime Minister Denys Shmyhal who spoke at a government meeting on Wednesday.

"The government plans to continue cooperation with the Supervisory Board of Naftogaz and to hold soon an absolutely transparent competition for the posts of members of the Supervisory Board and the post of chair of the board," he said.

Shmyhal stressed the country's leadership supports the implementation of the corporate governance reform in the country.

Read alsoCabinet offers to prolong contracts of Naftogaz Supervisory Board"We fully support and remain committed to corporate governance reform to the best international standards. In particular, the government plans to improve the work of the nomination committee, which is responsible for appointing members of independent supervisory boards; in particular, we are considering attracting our international partners to such a committee," the prime minister said.

The Supervisory Board, in turn, is ready to accept the government's proposal to extend its powers for another year, provided that the previous working conditions are preserved.

The statement came from the Supervisory Board Chair, Claire Spottiswoode, who addressed the government meeting, an UNIAN correspondent reports.

Reshuffle at Naftogaz

• On April 28, 2021, Ukraine's Cabinet of Ministers suspended the powers of members of the Supervisory Board of NJSC Naftogaz of Ukraine, apparently to allow shareholders to sack Chairman of the Board Andriy Kobolyev, while appointing Yuriy Vitrenko to that position.
• The move followed consideration of the company's annual report for 2020.
• The decision is a legal manipulation, Naftogaz claimed in a statement on Wednesday, April 28.
• Along with the dismissal of the Supervisory Board for two days to sack Kobolyev, it is "is a violation of the basic principles of corporate governance of state-owned enterprises," the company's press service said.
• Any decisions on the CEO's appointment or dismissal are reserved to the supervisory board and cannot be delegated, the statement adds.
• On May 1, all members of the Supervisory Board at NJSC Naftogaz of Ukraine submitted resignation letters.